Currencies To Preserve The Current

Fundamental Analysis EUR "Spain, once again, is where the confidence game is played" - Sebastian Paris Horvitz, strategist at HSBC Private Bank Suisse Spain sold the maximum targeted amount of debt, 2.5 billion euros, during yesterday’s auction with spiking borrowing costs. The interest rate of three-year bonds rose to 4.373% from April’s figure of 2.89% while interest rate of five-year bonds surged to 5.106% from 3.374 in March. USD "What we’re seeing in foreign-exchange markets is strong demand for the U.S. dollar" - Steven Saywell, head of foreign-exchange strategy for Europe at BNP Paribas SA Latest US initial unemployment claim data was released yesterday – 370 000 Americans demanded their jobless benefits last week versus a 368 000 consensus forecast. The Labor Department revised ...

Fundamental Analysis EUR "Equity markets are driven by two things: fundamentals and sentiment." - Lorne Baring, managing director at B Capital SA European stocks climbed on Friday after a report showed U.S. consumer confidence increased to the highest level in four years in May. USD "Confidence has been boosted by lower gasoline prices." - Paul Dales, a senior economist at Capital Economics Ltd. U.S. consumer confidence rose by more than expected in May as consumers became more optimistic on the outlook of the country's economy. GBP "The April producer price data … do little overall to reduce the uncertainty as to whether or not the Bank of England will eventually do more Quantitative Easing." - Howard Archer, an economist at HIS Global Insight U.K. producer prices rose by more than ...

Fundamental Analysis EUR "Ifo index paints a too positive picture of the growth prospects for the German economy" - Carsten Brzeski, senior economist at ING Group German business confidence unexpectedly improved in April, a sign the euro zone’s largest economy is weathering Europe’s debt crisis. Ifo business climate index, which is based on a survey of 7,000 businesses, rose to 109.9 points from 109.8 points in March. USD "A strong Germany helps the euro massively, and helps other assets too" - Neil Jones, head of European hedge-fund sales at Mizuho Corporate Bank Ltd. U.S. stocks closed mixed on Friday while German investor confidence unexpectedly improved and blue chip companies from General Electrics to Microsoft reported better than expected earnings. GBP "While the month of March ...

Weekly Economic and Financial Commentary U.S. Review Housing Indicators Pulled Back, but Don't Be Alarmed This week, the economic calendar was chock-full of housing market data. While housing indicators painted somewhat of a mixed picture, with nearly all housing market indicators unexpectedly declining on the month, we continue to see real improvement. That said, much of the pullback was due to the mild winter, which likely exacerbated the seasonal adjustment process. Housing starts unexpectedly fell 1.1 percent to a 698,000-unit pace in February. January starts, however, were upwardly revised to a 706,000-unit pace, the highest level since October 2008. Housing Indicators Pulled back, but Don't Be Alarmed This week the economic calendar was chock-full of housing market data. ...

Fundamental Analysis EUR "There’s been a growing realization that in fact the economic numbers particularly out of the States have been better than expected" - David Miller, a partner at Cheviot Asset Management The Stoxx Europe 600 Index declined 1.14 per cent to 268.97. Germany’s DAX Index slid 1.39 per cent and France’s CAC 40 Index lost 1.32 per cent. The U.K.’s FTSE 100 Index tumbled 1.17 per cent to 5,891.41. USD "The housing market continues to recover at a very gradual rate" - Sal Guatieri, a senior economist at BMO Capital Markets U.S. housing starts declined slightly in February, but the biggest increase in building permits in more than three years shows the industry is recovering. Housing starts fell 1.1% to an annual rate of 698,000 last month. GBP "The Bank of England is ...

According to a Greek government official; the Greek government is preparing a text for an agreement that would be handled to political parties to discuss and agree upon today, this text is the result of the long-lasted talks with private lenders. After the long wait, markets are getting fresh news from Greece, the news was euro positive as the EUR/USD pair is trading higher currently around 1.3175 after its has been under pressure this morning printing a low at 1.3095 after opening the day at 1.3129. A final approval by political parties shall end this vague phase of the country’s perilous journey and avoid a messy default. The EUR/USD pair has breached the short term descending resistance of a bullish flag pattern suggesting we may see further gains within the coming sessions, ...

Fundamental Analysis EUR " is the main source of vulnerability of the Spanish economy" - Luis de Guindos, Economy Minister Spain’s unemployment increased to 22.8 per cent in the last three months of 2011 from 21.5 per cent the previous quarter and surpassed five million mark, said the National Statistics Institute on Friday. USD "The economy ended 2011 on a fairly positive note" - Ryan Sweet, a senior economist at Moody's Analytics The U.S. gross domestic product rose 2.8 per cent in the last three months of 2011, less then expected, the Bureau of Economic Analysis said on Friday. GBP "We’re still cautious on the outlook for equities at present" - Sally Davies, a fund manager at Octopus Investments U.K. stocks edged lower on Friday as the world’s largest economy grew less than ...

(Reuters) - Gold steadied on Tuesday after posting its second-largest one-day gain of the month the previous day, boosted by a stronger euro and a recovery in risk assets such as stocks, with which gold is trading more closely than at any time in the last year. The euro briefly traded at session highs against the dollar after Italy sold three- and 10-year debt ahead of a key meeting of euro zone finance ministers, which investors hope could result in fine-tuning the details for leveraging the European Financial Stability Facility rescue fund. European equities .STOXX turned positive, which helped boost gold. The correlation between the gold price and the European stock market is at its most positive in a year, while the correlation of gold and copper is hovering around its highest since ...

Gold steadied on Tuesday after posting its second-largest one-day gain of the month the previous day, boosted by a stronger euro and a recovery in risk assets such as stocks, with which gold is trading more closely than at any time in the last year. The euro traded at session highs against the dollar after Italy sold three- and 10-year debt ahead of a key meeting of euro zone finance ministers, which investors hope could result in fine-tuning the details for leveraging the European Financial Stability Facility rescue fund. European equities .STOXX turned positive, which helped boost gold. The correlation between the gold price and the European stock market is at its most positive in a year, while the correlation of gold and copper is hovering around its highest since the final quarter ...